The Incredible Unstoppable Rally Continues: Here's What You Need To Know

formula one race cars

Gee, what else is new?

But first, the scoreboard:

Dow: +22
NASDAQ: +4.53
S&P 500: +3.22

And now, the top stories:

  • Really, it was pretty quiet on the news front. If you turned on the TV at any point, it was probably Egypt, but the market really didn’t care at all.
  • Markets generally did their bull thing around the world. Even India had another huge day. Europe was down a bit, but there was nothing too remarkable. ECB chief Jean-Claude Trichet took a fairly dovish tone during his press conference, and the euro rally ran into a brick wall.
  • There was some good US economic data. Initial jobless claims fell nicely, and slightly beat expectations. ISM services easily surpassed expectations.
  • And then beyond that, the only big “news” was a Bernanke speech in which he didn’t really say anything new, though gold seemed to take a pretty big spike once his dovish-sounding speech hit the market. Also, it sounded to us like he started telegraphing QE3 pretty clearly >
  • And that was it! Everyone’s getting excited about tomorrow’s big Non-Farm Payrolls report.
  • For some big-picture stuff, Goldman put out a new, negative note on housing >

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